DHT (NYSE:DHT) Announces Quarterly Earnings Results

DHT (NYSE:DHT) posted its earnings results on Wednesday. The shipping company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12, Zacks reports. DHT had a return on equity of 15.58% and a net margin of 27.72%.

DHT Price Performance

Shares of DHT opened at $11.80 on Thursday. DHT has a 52 week low of $8.67 and a 52 week high of $12.80. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 11.80 and a beta of -0.39. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $10.03 and a 200-day moving average of $10.61.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 7.46%. DHT’s payout ratio is 88.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DHT. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus lowered their price objective on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Kepler Capital Markets lowered DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective for the company. in a research note on Thursday, December 12th. BTIG Research assumed coverage on DHT in a research report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 target price on shares of DHT in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and an average target price of $13.54.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.